{"id":68193,"date":"2023-05-25T09:05:03","date_gmt":"2023-05-25T13:05:03","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=68193"},"modified":"2023-05-25T09:05:03","modified_gmt":"2023-05-25T13:05:03","slug":"coffee-with-greta-nvidia-surprise","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/05\/25\/coffee-with-greta-nvidia-surprise\/","title":{"rendered":"Coffee With Greta: Nvidia Surprise"},"content":{"rendered":"

DJIA Futures: <\/b>-25 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+35 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+306 (+2.2%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are mixed as tech stocks rally after Nvidia\u2019s blowout earnings report.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Nvidia Skyrockets<\/span><\/h2>\n

Nvidia <\/b>(NVDA) shares are surging 29.0% ahead of the open after crushing Q1 expectations and hiking its Q2 guidance.\u00a0<\/span><\/p>\n

Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $1.09 vs $0.92 expected<\/span><\/li>\n
  • Revenue: $7.19 billion vs $6.52 billion<\/span><\/li>\n<\/ul>\n

    Nvidia\u2019s CEO said the company is seeing \u201csurging demand\u201d for its data center products and is going to have a \u201cgiant record year\u201d.\u00a0<\/span><\/p>\n

    That group\u2019s sales jumped 14% last quarter to $4.28 billion vs $3.9 billion expected.<\/span><\/p>\n

    Nvidia forecast $11 billion in Q2 sales, crushing analysts\u2019 estimates for $7.15 billion.<\/span><\/p>\n

    Dollar Tree Shrinks After Cutting Guidance<\/span><\/h2>\n

    Dollar Tree <\/b>(DLTR) shares are falling 12.1% in premarket trade after missing Q1 earnings expectations and cutting its full-year profit outlook.\u00a0<\/span><\/p>\n

    Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • Adjusted EPS: $1.47 vs $1.53 expected<\/span><\/li>\n
    • Revenue: $7.32 billion vs $7.28 billion expected<\/span><\/li>\n<\/ul>\n

      Dollar Tree maintained its full-year revenue outlook but cut guidance for earnings.\u00a0<\/span><\/p>\n

      The company now expects EPS between $5.73 and $6.13 vs $6.30 to $6.80 previously.\u00a0<\/span><\/p>\n

      The CEO said, \u201cWe are adjusting our EPS outlook as we expect the elevated shrink and unfavorable sales mix to persist through the balance of the year. We still expect earnings to be more back-end loaded this year as the benefits of lower ocean freight rates flow through.\u201d<\/span><\/p>\n

      Q1 GDP Growth Revised Higher<\/span><\/h2>\n

      Economic growth in the first quarter was unexpectedly revised higher.<\/span><\/p>\n

      The Commerce Department\u2019s second estimate shows annual GDP growth of 1.3% vs 1.1% initially estimated.\u00a0<\/span><\/p>\n

      The increase was primarily driven by an upward revision to inventory investment.\u00a0<\/span><\/p>\n

      Weekly Jobless Claims Lower Than Expected<\/span><\/h2>\n

      Weekly jobless claims came in lower than expected last week.\u00a0<\/span><\/p>\n

      The Labor Department reported 229,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

      That was an increase from the revised 225,000 in the previous week.\u00a0<\/span><\/p>\n

      The previous week was initially estimated at 242,000.<\/span><\/p>\n

      But mass fraud has been discovered in unemployment numbers in Massachusetts in recent weeks, which contributed to the apparent increase in nationwide unemployment.<\/span><\/p>\n

      The state says it is working to address the problem and will amend previous reports.\u00a0<\/span><\/p>\n

      That could reduce overall claims for the weeks of May 6 and May 13.<\/span><\/p>\n

      Debt Ceiling Talks Make Progress<\/span><\/h2>\n

      House Speaker Kevin McCarthy says talks for a debt ceiling deal are making progress but the two sides still disagree on spending.\u00a0<\/span><\/p>\n

      After negotiators met at the White House on Wednesday, McCarthy said, \u201cWe will come to an agreement worthy of the American public and there should not be any fear. Money\u2019s coming in [to the Treasury] every day.\u201d<\/span><\/p>\n

      But lawmakers are still leaving Washington for Memorial Day recess beginning today, indicating no deal is close to needing a vote.<\/span><\/p>\n

      Rep. Steve Scalise said Wednesday, \u201cIf some new agreement is reached between President [Joe] Biden and Speaker McCarthy, members will receive 24 hours notice in the event we need to return to Washington for any additional votes, either over the weekend or next week.\u201d<\/span><\/p>\n

      In response to the turmoil over the debt limit, credit rating agency Fitch places the United States\u2019 AAA status on \u201crating watch negative\u201d.\u00a0<\/span><\/p>\n

      The agency said, \u201cThe brinkmanship over the debt ceiling, failure of the U.S. authorities to meaningfully tackle medium-term fiscal challenges that will lead to rising budget deficits and a growing debt burden signal downside risks to U.S. creditworthiness.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -25 (-0.1%) SPX Futures: +35 (+0.8%) NASDAQ Futures: +306 (+2.2%) Good morning friends! Futures are mixed as tech stocks rally after Nvidia\u2019s blowout earnings report. Let\u2019s get right to it! Nvidia Skyrockets Nvidia (NVDA) shares are surging 29.0% ahead of the open after crushing Q1 expectations and hiking its Q2 guidance.\u00a0 Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.09 vs $0.92 expected Revenue: $7.19 billion vs $6.52 billion Nvidia\u2019s CEO said the company is seeing \u201csurging demand\u201d for its data center products and is going to have a \u201cgiant record year\u201d.\u00a0 That group\u2019s sales jumped 14% last quarter to $4.28 billion vs $3.9 billion expected. Nvidia forecast $11 billion in Q2 sales, crushing analysts\u2019 estimates for $7.15 billion. Dollar Tree Shrinks After Cutting Guidance Dollar Tree (DLTR) shares are falling 12.1% in premarket trade after missing Q1 earnings expectations and cutting its full-year profit outlook.\u00a0 Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.47 vs $1.53 expected Revenue: $7.32 billion vs $7.28 billion expected Dollar Tree maintained its full-year revenue outlook but cut guidance for earnings.\u00a0 The company now expects EPS between $5.73 and $6.13 vs $6.30 to $6.80 previously.\u00a0 The CEO said, \u201cWe are adjusting our EPS outlook as we expect the elevated shrink and unfavorable sales mix to persist through the balance of the year. We still expect earnings to be more back-end loaded this year as the benefits of lower ocean freight rates flow through.\u201d Q1 GDP Growth Revised Higher Economic growth in the first quarter was unexpectedly revised higher. The Commerce Department\u2019s second estimate shows annual GDP growth of 1.3% vs 1.1% initially estimated.\u00a0 The increase was primarily driven by an upward revision to inventory investment.\u00a0 Weekly Jobless Claims Lower Than Expected Weekly jobless claims came in lower than expected last week.\u00a0 The Labor Department reported 229,000 Americans filed initial claims for unemployment benefits.\u00a0 That was an increase from the revised 225,000 in the previous week.\u00a0 The previous week was initially estimated at 242,000. But mass fraud has been discovered in unemployment numbers in Massachusetts in recent weeks, which contributed to the apparent increase in nationwide unemployment. The state says it is working to address the problem and will amend previous reports.\u00a0 That could reduce overall claims for the weeks of May 6 and May 13. Debt Ceiling Talks Make Progress House Speaker Kevin McCarthy says talks for a debt ceiling deal are making progress but the two sides still disagree on spending.\u00a0 After negotiators met at the White House on Wednesday, McCarthy said, \u201cWe will come to an agreement worthy of the American public and there should not be any fear. Money\u2019s coming in [to the Treasury] every day.\u201d But lawmakers are still leaving Washington for Memorial Day recess beginning today, indicating no deal is close to needing a vote. Rep. Steve Scalise said Wednesday, \u201cIf some new agreement is reached between President [Joe] Biden and Speaker McCarthy, members will receive 24 hours notice in the event we need to return to Washington for any additional votes, either over the weekend or next week.\u201d In response to the turmoil over the debt limit, credit rating agency Fitch places the United States\u2019 AAA status on \u201crating watch negative\u201d.\u00a0 The agency said, \u201cThe brinkmanship over the debt ceiling, failure of the U.S. authorities to meaningfully tackle medium-term fiscal challenges that will lead to rising budget deficits and a growing debt burden signal downside risks to U.S. creditworthiness.\u201d<\/p>\n","protected":false},"author":41,"featured_media":68196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-68193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=68193"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68193\/revisions"}],"predecessor-version":[{"id":68197,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68193\/revisions\/68197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/68196"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=68193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=68193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=68193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}